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Gifts of Securities
Giving That Makes Sense
Gifts to the University of Saint Joseph that are made with the transfer of appreciated long-term securities (held for more than a year) can make good sense for a donor.
These gifts, if handled correctly, may generate a favorable tax benefit to the donor. In most cases, donors are advised to transfer the actual security, versus selling the asset and sending cash, in order to maximize any potential tax benefit and to avoid the potential of unnecessary capital gains taxes.
Giving Procedure
Do not have your broker sell your securities before giving them to the University, or you will have to pay a capital gains tax. Follow this procedure:
How to Transfer Your Gift of Securities to the University of Saint Joseph
Thank you for your gift to the University of Saint Joseph!
In order to transfer your gift of securities, please provide your broker with these instructions:
Reliance Trust FIS DTC Number 5409
Credit: Berkshire Bank Wealth Management / Acct # 74-2080-01-3
FFC: University of Saint Joseph, Gift Account / Acct # 71-0153-01-6
Tax ID # 06-0646829
Please provide number of shares, description of shares, and symbol or CUSIP number.
If your broker has questions, they can contact:
Anthony Segala
Berkshire Bank Wealth Management
25 Main Street
Lenox, MA 01240
Phone: 413-769-6025
Email: [email protected]
Please alert the Office of Institutional Advancement at 860-231-5397 prior to your stock transfer, to assure that you are properly credited for your gift.
Acknowledgement Procedure
The value of a gift of stock is the average of the high and the low on the date of the gift. The date of the gift is recorded as the date the securities are received by the University or, for mailed gifts, the postmark shown on the envelope.
The University provides a gift receipt indicating the number of shares received, name of stock, and date of transaction.
The donor receives credit for a gift based upon the value of the gift of stock on the date of transfer to the University, not the amount realized by the sale of this stock after the gift has been made. The amount of this gift credit is mentioned in an acknowledgment letter, but donors are urged to check with their tax advisors regarding the amount of the gift for tax purposes.